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Stock Market ‘Deflation’ Could Trigger Bear Market: Nobel Laureate Robert Shiller

By CCN.com: The US stock market could fall prey to deflation and tumble into a full-blown bear market in 2019. That’s what Yale University professor Robert Shiller, a Nobel Prize-winning economist, said at the 2019 World Economic Forum in Davos, Switzerland. Shiller says the Dow Jones has been recovering from its plunge in late-2018, but there’s The post Stock Market ‘Deflation’ Could Trigger Bear Market: Nobel Laureate Robert Shiller appeared first on CCN
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Yale Economist Robert Shiller Says Bitcoin To Be Extinct… in 100 Years

Robert Shiller, a Nobel Prize-winning economist from Yale, has made a bold assumption really in affirming that Bitcoin could be extinct within the next 100 years. To explain his line of thought, he drew a parallel between cryptos and dinosaurs. According to him, Bitcoin will not look like what it is today in the future. It will have a different name and will possibly not even exist. With so many hard forks, it will be impossible to compare it to today and it will be a matter of dispute whether it will exist or not. However, even if the death of Bitcoin is still a hundred years away, it does not mean that BTC will not suffer in the market soon. According to him, there are significant chances that something like Bitcoin topping big prices and then falling will still happen a lot. He cites 2013 as an example of this. The token reached the value of $1,000 USD and then lost 80% of its value later. It looked like Bitcoin was done for, but it survived. Last year, the same trend happened, though the fallout was not as high as before. The prices surged and went up to $20,000 USD and then they fell to $6,400. However, even now it is still up 233% when compared to the past 12 months. “It looks like a bubble”, Shiller Affirms Shiller believes that Bitcoin looks a lot like a bubble because, from time to time, everybody gets hyped about it and then pump a lot of money in it. However, the prices fall later. He does affirm that it is a bubble, though. What he likes about Bitcoin is the enthusiasm, though. Many people are creating new coins and testing the limits of this new market, which is great for the industry. He firmly believes that, even if Bitcoin is done for in the future, something good will have to come out of this. With thousands of different ones, something is bound to happen. Shiller also has a funny story related to Bitcoin. He tells the story of when a student wanted to keep his laptop during the final exam of the semester to trade Bitcoin. Inspired by the enthusiasm of the young man, he allowed it. Robert Shiller was awarded the Nobel Prize in Economics in 2013 for his work on spotting financial bubbles. He admits to be a Bitcoin bear and does not have a lot of faith in the market, but looks to be more positive about it now.
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Bitcoin [BTC] phenomenon is generational and geographical, says Robert Shiller

In an interview with Bloomberg TV, Robert Shiller, a prominent economist, Yale University economics professor and Nobel economics prize winner Robert Shiller said that Bitcoin [BTC] is a generational and geographic phenomenon. During the interview, Shiller demarcated the geographic borders between those who are “into it” and those who are not. He said: “The East Coast is less into it than the West Coast. Silicon Valley is really into it. This to me shows that this is not a rational response to new information.” He stated that it was a speculative bubble, as he has many times in the past, and that the price is driven by “investor excitement at the possibility of getting rich”. He also stated that Bitcoin is receiving undue attention towards it due to the phenomenon being a bubble. However, he did say that it was a “remarkable social phenomenon” and that computer engineers are coming up with new applications in cryptographic functions. He stated: “It’s a social movement. It’s an epidemic of enthusiasm. It is a speculative bubble. That doesn’t mean that it will go to zero.” In the past, Shiller has called Bitcoin a financial failure, an example of faddish human behavior and has said that it will vanish in the next 100 years. He said: ““It’s another faddish example of human behaviour, it’s glamorous. I don’t mean to dismiss it. Some smart people went into these, and other cryptocurrencies. But it’s a story that goes way beyond the merit of that idea. I don’t know for sure, but it strikes me that the reason why people are so excited about it, is more psychological than something that could be explained by the computer science department.” The post Bitcoin [BTC] phenomenon is generational and geographical, says Robert Shiller appeared first on AMBCrypto.
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DIGEST

This week has been eventful in the crypto world. Ripple tries to rebrand its XRP coin, South Korea and China may lift their ICO ban, Bittrex is launching USD trading pairs and EOS’ long-awaited mainnet is soon to go live.

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DIGEST

All in this week’s News Digest: McAfee still has a lot of faith in crypto, Robert Shiller explains the roots of this faith, more new exchanges are coming, an investigation into Bitcoin price manipulation, and Verge is hacked again.

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Monolith partners with decentralized finance heavyweights to spend MKR, DGX and DGD anywhere that accepts Visa

Monolith is bringing crypto adoption to the mainstream with a debit card that lets you spend your coins and tokens anywhere in Europe that Visa is currently accepted. The news follows an announcement from UK-based Monolith that they have partnered with MakerDAO and Digix to offer their tokens on the platform. Creating gold for the digital age. pic.twitter.com/Y0FRa5kHiv — Digix (@DigixGlobal) July 1, 2019 The smartphone-based Monolith platform allows you to quickly and easily send and receive cryptocurrencies, including ETH, DAI, TKN, MKR, DGX, and DGD, convert them into fiat currency and pre-load them on to a Visa debit card that is attached to your Monolith account. Mel Gelderman, CEO of Monolith, said MakerDAO and Digix represent high-quality Ethereum decentralized finance projects and are the first in a long set of milestones on Monolith’s roadmap. He said: “We’re thrilled to have had a fantastic response from our beta users and are now ramping up for growth. Rebranding from Tokencard to Monolith has helped us achieve our mission of democratizing finance and bringing the token economy to everyone while providing a unique service to our customers.” Gelderman added: “MakerDAO and Digix are some of the most well-recognized and earliest Ethereum-based projects. For TKN holders, these partnerships mean that MKR, DAI, DGD and DGX are now eligible for use in Monolith. We’re thrilled to offer them on the platform, and see this as the start of bringing many more quality tokens into the Monolith ecosystem. Watch this space.” Self-sovereign banking Monolith means anyone can finally achieve the cypherpunk ideal, of ‘becoming their own bank’, and can effectively live their lives on Ethereum away from big banks and corporations. Once loaded up the Visa debit card can be used at millions of locations across Europe that accept Visa, opening up a world of opportunity for people who want to make a permanent switch to living on cryptocurrencies. You can then spend your cryptocurrencies anywhere Visa is accepted, whether it’s buying drinks, cinema tickets, or anything else you can think of. Tea, Tokens and the Moon landing. Paid for in $ETH with @tokencard_io Best weekend. pic.twitter.com/xeW8obrbzi — Mel 'Monolith' Gelderman (@MelGelderman) August 3, 2019 The service is decentralized and completely non-custodial, with each account holder creating a private seed phrase for their account and having complete control of their finances, allowing them to operate as their own self-sovereign bank. Backing They have the backing of some well-respected figures across the crypto space too, including Rune Christensen, CEO, and founder of MakerDAO. He said: “Monolith’s solution provides a powerful way for token holders to extend the usefulness of their crypto-holdings. Their cards create a critical bridge from the world of DeFi to the more traditional world of retail.” The post Monolith partners with decentralized finance heavyweights to spend MKR, DGX and DGD anywhere that accepts Visa appeared first on CryptoSlate.
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Bakkt Cleared Launch | Bitcoin Bullish News!

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Why is Bakkt Important For Mainstream Adoption of Bitcoin (BTC)?

After a year of repeated postponements, we are finally going to have physically-delivered Bitcoin futures. September 23rd is the day when Bakkt is launching its physically-delivered Bitcoin futures contracts after receiving the green light from the CFTC. “Transparency and trust to digital assets,” is what Bakkt vows to bring to the cryptocurrency industry which is […]
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